Loan Comparison: 6.36% vs 6.5%
222 Wright Street, Lakewood, CO 80228 · 3bd/2ba · $324,900
List Price
$324,900
Assumable Rate
6.36%
Remaining Balance
$231,941
Equity Gap
$92,958
Loan Type
FHAAdjust Your Scenario
$16,245
$16,245$92,958
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.36% (FHA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 6.36% + gap loan
$1,981/moAssumed loan: $1,445/mo
Gap financing: $536/mo
Your Savings on This Property
222 Wright Street, Lakewood · 6.36% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($92,958) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($76,713 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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